The 2024 tax season is in full swing, and taxpayers are eagerly awaiting their refunds. On average, refunds are expected to be processed within 21 days, but there are factors that could cause delays. For those claiming tax credits, the waiting time may be longer as the IRS verifies eligibility.
Tax preparer Arturo Murillo advises taxpayers to file their returns as soon as possible to expedite the refund process. He also recommends ensuring all necessary forms are submitted, double-checking account numbers, and keeping accurate records of income. Additionally, choosing direct deposit for the refund is not only faster but also safer than receiving a check by mail.
However, delays in tax refunds can occur, particularly for those claiming tax credits. Latino taxpayers and families may experience delays of up to a month and a half due to the complexity of certain credits. It is important to be aware of potential delays and plan accordingly.
Taxpayers can track the status of their refund after filing their return, but it is important to wait 24 hours for electronic returns or 4 weeks for paper returns. Errors in the tax form, missing documents, incorrect bank account numbers, and failure to sign and date the declaration can all lead to delays in receiving the refund.
In conclusion, taxpayers can take steps to avoid delays in receiving their tax refunds by filing early, ensuring accurate information, and choosing direct deposit. By being proactive and attentive to potential issues, taxpayers can expedite the refund process and avoid unnecessary delays.
Image Source: www.univision.com
Finance, Business, Technology